Admiral bosses jump ship in SilverBug merger
Admiral IT, along with two of its sister firms Admiral Network Infrastructure and Admiral Education Solutions are to merge with outsourcer SilverBug to create a new managed services player, with Admiral IT founders Craig Laffer and David Stanton, CTO Roger Burgess and key accounts director Adam Sullivan all heading across.
Nine year old SilverBug specialises in the SME sector and is based in Milton Keynes, although it recently opened a satellite office in Leeds and is also now picking up Admiral IT's London office.
The new firm, which will continue to trade as SilverBug, will hold accreditations from Cisco, Lenovo, Microsoft and VMware, among others.
Dixons Retail has bought out PIXmania founders Steve and Jean-Emile Rosenblum for €10m (£8m) in cash, taking its stake in the online retailer to 99%, with a further cash amount to become payable to shareholders should it be sold on again within the next two years.
In a statement to the City, Dixons – which has owned 77% of the pan-European firm since 2006 – said the acquisition was in line with is strategy to “take the necessary actions to improve the performance of this strategically important business”.
"The primary weakness was across all sections of Europe with most of our customers not foreseeing improvement in the near future."John Chambers, Cisco
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